Statistics are useful in relation to other statistics. A single stat can be misleading but several together can be revealing, as someone I know used to say.

When it comes to team stats, I think it's easier to say which are more useful than others. For example, if you're looking at a team's defense or offense, it's better to consider their defensive and offensive ratings (points given up per 100 possessions) than to look soley at PPG or opponents PPG. Things like pace of play can alter points per game stats. This would be an example of stats meaning something in relation to each other. PPG has to be viewed in relation to pace. A team could be top ten in opponents points given up but play at a really, really slow pace, which means they are actually no better than middle of the pack on defense when it is equated to 100 possessions.

The problem is that when it comes to individual stats, it's harder to properly equalize things across the boards the way defensive rating does for teams. There is always some context missing, since individuals are part of a bigger whole.

I still like stats, but, when looking at them, I try to consider several factors, depending on my purpose for seeking out the info.

Kevin Love is the best player in the world. Real All-Star. Stats don't tell a lie.

(except that his opponents have cleared the bench in the 3rd, and he finally scores some baskets against the other teams scrubs, due to the fact that his team is losing by 30)

You gotta watch a dude's game before rendering his stat line as a measuring tool.
Shane Battier for instance is a carreer 9, 4 and 2 guy. But what you can't see is when he hits those baskets. And you don't get stats for playing a pest in passing lanes, and shutting down the dribbling lanes. But if you ask any coach in this league if they want Battier in their lineup, and you'd hear a resounding YES.